3-D Printing Is (Kind Of) A Big Deal05:28

The first key to thinking about 3-D printers is this: Do not think printer. Think magic box that creates any object you can imagine.

In the box, razor-thin layers of powdered material (acrylic, nylon, silver, whatever) pile one on top of the other, and then, voila — you've got a shoe, or a cup, or a ring, or an iPhone case.

It's miraculous to see. Press a button, make anything you want. But just how important is 3-D printing? Unlike earlier big-deal technologies (like, say, the tractor) 3-D printing won't really replace what came before.

Right now, there are 30,000 people walking around with 3-D printed titanium hips, which are less expensive than conventionally manufactured artificial hips.

Boosters of 3-D printing dream of a day when printers can make new body parts. More prosaically, they talk about a day when every shirt, every dress, every pair of pants can be custom printed to perfectly fit each person.

Another thing to keep in mind about 3-D printing: It democratizes who gets to be in the manufacturing business. You don't need a giant factory and million-dollar machines. You just need $500 and a garage.